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Increase in food prices: Who exactly is regulating the price? - Food - Nairaland

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Increase in food prices: Who exactly is regulating the price? by Draslo(m): 1:42pm On Jun 24, 2021
I went out yesterday to buy unbranded eggs at a supermarket and they told me it's 100 each. The girl said "E shock you? Everything don cost". I jejely withdrew myself and went to buy one dozen branded eggs for 850. When I see people posting how they cooked this and that with just 500, I have never believed. Maybe because I'm Lagos oriented but the manner at which prices go up and never, ever, ever, ever come down is suspicious. Go and check the pricing of eggs in the US from 1995-2020. The price has increased and decreased over the years but only once did it climb over $2 a dozen and to be honest, there hasn't been any drastic increase enough for the consumers to cry.

Who exactly is regulating food prices in this country cause at this rate, even bread will become unaffordable to millions. Apart from insecurity, there are some greedy elements who benefit a lot from this burden.
Re: Increase in food prices: Who exactly is regulating the price? by donbachi(m): 1:49pm On Jun 24, 2021
Witches and wizards dat holds meetings inside the markets.
After,people will be blaming the government.dis market people are the worst.
Re: Increase in food prices: Who exactly is regulating the price? by budaatum: 2:08pm On Jun 24, 2021
They are indeed crying in America, and in UK, though not about eggs since they don't have as much erosion of the value of their currencies as we have.

And in answer to your question, the seller determines their own prices and will adjust if they don't sell.

Re: Increase in food prices: Who exactly is regulating the price? by budaatum: 2:13pm On Jun 24, 2021
The following might interest you. It lists US Inflation Adjusted Egg Prices (Years 1980-2020).

The average price for one dozen eggs was $1.625 in May 2021 compared to $1.62 in April, data released June 10 by the U.S. Labor Department’s Bureau of Labor Statistics (BLS) shows. Averaging the BLS’s monthly pricing data, the cost of a dozen eggs went up to $1.51 in 2020 from $1.40 in 2019, representing a 7.9% increase.
https://www.usinflationcalculator.com/inflation/egg-prices-adjusted-for-inflation/
Re: Increase in food prices: Who exactly is regulating the price? by lazkizz(m): 9:01pm On Jul 01, 2021
Seriously am also asking this Question
Re: Increase in food prices: Who exactly is regulating the price? by Juliearth(f): 1:10am On Jul 10, 2021
Draslo:
I went out yesterday to buy unbranded eggs at a supermarket and they told me it's 100 each. The girl said "E shock you? Everything don cost". I jejely withdrew myself and went to buy one dozen branded eggs for 850. When I see people posting how they cooked this and that with just 500, I have never believed. Maybe because I'm Lagos oriented but the manner at which prices go up and never, ever, ever, ever come down is suspicious. Go and check the pricing of eggs in the US from 1995-2020. The price has increased and decreased over the years but only once did it climb over $2 a dozen and to be honest, there hasn't been any drastic increase enough for the consumers to cry.

Who exactly is regulating food prices in this country cause at this rate, even bread will become unaffordable to millions. Apart from insecurity, there are some greedy elements who benefit a lot from this burden.



The prices of food items are regulated by quite a number of factors. The cost of seedlings, planting up to harvesting, transportation and maybe the season determines price. Your usual brand of eggs are expensive because the cost of poultry feeds and birds has increased by over 100 percent between December last year till date. Rice is very expensive due to the whole border ish, insecurity (farmers can hardly go to their farms). I was even told that farmers in rural settings settle bandits and boko boys to the tune of millions of naira so they can allow them farm. Those that dont do that pay security personnels heavily so they can guard them as they plant, weed and harvest. These millions wasted to settle these miscreants reflects in the price of whatever food item that these farmers would harvest. Lastly, there are some opportunistic farmers who are using the inflation status in the country to their advantage even though they needn't do so. For instance, the rate at which the cost of garri skyrocketed from 180 naira to about 600 now is totally uncalled for.

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